Statement of Account & Solvency of LLP (Form 8)
Are you searching for Statement of Account & Solvency of LLP (Form 8)? Every Limited Liability Partnership (LLP) in India must file Form 8 every year to declare its financial position and confirm that it is financially solvent. This form contains complete details of the LLP’s assets, liabilities, partner’s capital contribution, turnover, and profit or loss for the financial year, along with a declaration by the designated partners stating that the LLP is capable of meeting its liabilities. Filing Form 8 is a mandatory annual compliance under the LLP Act, and it must be submitted within the prescribed due date, even if there is no business activity during the year. Timely filing helps maintain the LLP’s active status, ensures proper legal compliance, and protects the firm from heavy late fees and penalties.
Get LLP Form 8 Filed Online?
Overview of LLP Form 8
Statement of Account & Solvency of LLP (Form 8) also known as the Statement of Account & Solvency, is a mandatory annual compliance form that every Limited Liability Partnership (LLP) registered in India must file with the Registrar of Companies (ROC). This form gives a complete overview of the LLP’s financial position for the relevant financial year. It includes detailed information about total assets and liabilities, profit or loss earned during the year, total partner’s contribution, and turnover of the LLP. The financial data is generally prepared based on the books of accounts maintained by the LLP, ensuring that the information reported is accurate and transparent.
Apart from financial figures, Form 8 also contains a declaration of solvency signed by the designated partners, confirming that the LLP is capable of paying its debts and meeting its financial obligations. Even if the LLP has not carried out any business activity during the year, filing Form 8 is still compulsory. The form must be filed within the prescribed due date every year, and delay in filing results in heavy additional fees on a per-day basis. Timely filing of LLP Form 8 helps maintain the active status of the LLP, ensures legal compliance under the LLP Act, and protects the business from penalties, notices, and future compliance issues.
Applicability of Limited Liability Partnership Form 8
Form 8 filing is compulsory for all registered Limited Liability Partnerships (LLPs) in India, whether small or large.
LLPs that are actively doing business and earning income must file Form 8 every year to report their complete financial details.
LLPs with no business activity during the financial year are also required to file Form 8. In such cases, a Nil return must be submitted.
Newly incorporated LLPs must file Form 8 after the end of the financial year in which they were registered, as per compliance requirements.
Even if the LLP has no income, no expenses, no bank transactions, or no turnover, filing Form 8 is still mandatory.
LLPs that have closed operations but are not officially struck off must continue filing Form 8 until their name is removed from the register.
The form must be digitally signed by the designated partners and certified by a professional (if applicable).
Failure to file Form 8 on time results in heavy additional fees charged on a per-day delay basis.
Continuous non-compliance may lead to penalties on the LLP and its designated partners.
Timely filing helps maintain the Statement of Account & Solvency of LLP (Form 8) active status and ensures smooth future compliances such as loan approvals, tenders, or business expansion.
Who Is Responsible for Filing LLP Form 8 Every Year?
Every Limited Liability Partnership (LLP) registered in India is required to file LLP Form 8 annually, irrespective of whether it is actively doing business or has no transactions during the financial year. The responsibility for filing this form lies with the designated partners, who must ensure that accurate financial details are prepared and submitted within the prescribed due date. Even LLPs that are under the strike-off process must complete all pending Form 8 filings before closure can be approved. Failure to file on time leads to heavy additional fees on a per-day basis and may also result in penalties for both the LLP and its designated partners, making timely compliance extremely important.
How to Complete LLP Form 8 Filing Step by Step?
We collect your LLP financial details such as contribution, turnover, profit & loss, and assets & liabilities. If needed, we also guide you on preparing proper financial statements.
Our team carefully prepares Form 8 based on your books of accounts and verifies all figures to ensure accuracy and full compliance, so there are no errors or resubmissions.
We complete the online filing on the MCA portal, attach required documents, and affix the Digital Signature Certificate (DSC) of the Designated Partner.
After uploading the form and paying government fees, we ensure successful submission and provide you with the SRN (Service Request Number) as proof of filing for your records.
Documents Required for Statement of Account & Solvency
To file the Statement of Account & Solvency of LLP (Form 8) you need to keep all financial records properly prepared and verified as per your books of accounts. Proper documentation ensures smooth filing and avoids errors, notices, or penalties during compliance.
Documents Required:
LLP Financial Statements for the relevant financial year
Statement of Assets and Liabilities
Profit & Loss Account (Income & Expenditure details)
Details of Partner’s Capital Contribution
Turnover details of the LLP
Auditor’s Report (if turnover exceeds the prescribed audit limit)
Digital Signature Certificate (DSC) of Designated Partner
LLP Agreement (if required for verification)
Previous year financial data for reference (if applicable)
Government Fees & Additional Fees for Late Filing
The government filing fee for LLP Form 8 is based on the total contribution (capital) of the LLP. The applicable fees are as follows:
Government Filing Fees (As per Contribution Amount):
Up to ₹1 lakh – ₹50
More than ₹1 lakh and up to ₹5 lakh – ₹100
More than ₹5 lakh and up to ₹10 lakh – ₹150
More than ₹10 lakh – ₹200
These fees are payable online at the time of filing Form 8 on the MCA portal.
Additional Fees for Late Filing:
₹100 per day of delay
No maximum limit on the penalty
The additional fee continues to increase daily until the form is filed
Due Date & Time Limit for Filing Form 8
LLP Form 8 must be filed on or before 30th October every year for the relevant financial year.
The form covers the financial year period from 1st April to 31st March.
Every LLP is required to prepare its Statement of Account and Solvency based on its books of accounts before filing.
The form must be digitally signed by the designated partners and submitted online through the MCA portal.
If Form 8 is not filed within the due date, a late fee of ₹100 per day is charged.
There is no maximum limit on the late fee, so the penalty keeps increasing every single day until the form is filed.
Even if the LLP has no business activity, no income, or no transactions, filing within the due date is still mandatory.
Continuous delay in filing may lead to heavy financial burden and compliance issues for the LLP and its designated partners.
Timely filing helps maintain the LLP’s active status and avoids notices or legal complications from the authorities.
Key Legal Compliance Rules for LLP Form 8 Filing
- As per the Limited Liability Partnership Act, 2008, every Statement of Account & Solvency of LLP (Form 8) must properly maintain its books of accounts on a regular basis.
- The LLP is required to prepare its financial statements at the end of each financial year based on its actual records and transactions.
- The Statement of Account & Solvency must be approved and signed by the Designated Partners of the LLP.
- The Designated Partners are responsible for confirming that the LLP is financially sound and capable of meeting its liabilities.
- If the LLP’s turnover exceeds the prescribed limit, the accounts must be certified by a practicing Chartered Accountant.
- Proper maintenance of financial records ensures transparency and smooth annual compliance.
- Failure to comply with these legal requirements may result in penalties on the LLP as well as its Designated Partners.
- Regular and timely compliance helps avoid legal notices, additional fees, and future complications.
Frequently Asked Questions About Private Limited Company Incorporation
LLP Form 8 is an annual filing that contains the Statement of Account and Solvency of an LLP. It shows the financial position, profit/loss, and declaration of solvency for the financial year.
Yes, Form 8 is compulsory for every LLP registered in India, even if there is no business activity or income during the year (Nil return must also be filed).
Form 8 must be filed on or before 30th October every year for the financial year ending 31st March.
Heavy penalties will accumulate, and the LLP may face legal action. The LLP may also face difficulties in closing, striking off, or obtaining loans.